Welcome!

.NET Authors: ChandraShekar Dattatreya, Trevor Parsons, Peter Silva, Yeshim Deniz, Pat Romanski

News Feed Item

Westell Technologies Reports Fiscal Third Quarter Results

Westell Technologies, Inc. (NASDAQ: WSTL), a leading provider of telecommunications equipment for wireline, wireless and home networks, today announced results for its fiscal 2013 third quarter ended December 31, 2012. Consolidated revenue from continuing operations was $8.9 million. The net loss for the quarter was $2.0 million, equal to $0.03 per share. The non-GAAP net loss for the third quarter was $1.4 million, equal to $0.02 per share.

New Products Lift Division Revenues, Reflect Growth Strategy

“The most important takeaway for the quarter is the growing acceptance of the new wireless network products that we have brought to market over the last year,” said Chairman and CEO Rick Gilbert. “In the face of a seasonally slow quarter, sales of these new lines increased significantly and were the primary reason for the 16% year-over-year growth in Westell Division revenue.”

“This validates our growth strategy to expand and diversify Westell's revenue by using new products to build market share,” Gilbert explained. “We intend to add products for wireless networks through internal development, which is driven by customer feedback, and fold-in acquisitions. Realigning our sales efforts has fueled our momentum, and our advances should be supported by making steady progress in qualifying new products with additional customers.”

Westell's new products for wireless networks include distributed antenna systems (DAS) products, Ethernet network interface units and switches, and tower-mounted amplifiers. These new products contributed 11% of total revenue during the fiscal 2013 third quarter.

Lower Consolidated Results Reflect Wind-Down of Non-Core Business

Consolidated revenue from continuing operations for the latest quarter was $8.9 million, compared to $14.4 million in the prior-year period. The decrease reflected the planned wind-down of sales in the company's Customer Networking Solutions (CNS) Division.

The net loss for the third quarter was $2.0 million, equal to $0.03 per share, compared to net income of $19.8 million, equal to $0.29 per share, in the same quarter last year. Prior-year net income included $20.3 million of income from discontinued operations that related to the Conference Plus Division, including a gain on the sale of the division. The latest quarter included a $0.6 million loss from discontinued operations, which reflected charges associated with a pending indemnity claim, partially offset by an unrelated tax benefit. On a non-GAAP basis, net loss for the fiscal 2013 third quarter was $1.4 million, equal to $0.02 per share, compared to a non-GAAP net loss of $0.5 million, equal to $0.01 per share, in the year-ago quarter.

Westell Division Benefits from New and Traditional Product Sales

Revenue for the Westell Division was $8.9 million in the fiscal third quarter, up 16% from $7.7 million in the prior-year period. The increase was driven primarily by sales of new products, although traditional product categories also improved. Gross margin was 34.8% and was comparable to the prior-year period. Operating expenses were $4.4 million, up $1.1 million from the prior-year period, reflecting higher cost allocations and increases to support sales and development of new products. On this basis, the division reported a fiscal third quarter operating loss of $1.3 million, compared to an operating loss of $0.6 million in the same quarter of the prior year.

The CNS Division recorded revenue of $0.1 million in the fiscal third quarter, compared to $6.7 million in the same quarter last year. The decline reflects completion of the planned wind-down of sales to the division's remaining customer following the CNS sale transaction. CNS operating expenses in the most recent quarter declined to $0.4 million as a result of reducing project expenditures following the limited product release for HomecloudTM on September 26, 2012.

Strong Cash Position Helped Fund Share Repurchases

Total cash and short-term investments on December 31, 2012, were $119.2 million, compared to $124.4 million at September 30, 2012. The company repurchased 1.4 million shares at a cost of $2.9 million during the latest quarter.

Conference Call Information

Management will address financial and business results during its third quarter conference call on Tuesday, February 5, 2013, at 9:30 AM Eastern Time. Participants may register for the call at http://www.conferenceplus.com/westell. After doing so, they will receive a dial-in number, a passcode, and a personal identification number (PIN) that automatically joins them to the audio conference. Those who do not wish to register may participate in the call by dialing 888-206-4065 no later than 9:15 AM Eastern Time and using confirmation number 3406 9774#. International participants may dial 630-827-5974.

This news release and related information that may be discussed on the conference call will be posted on the Investor News section of Westell's website: http://www.westell.com. An archive of the entire call will be available on the site via Digital Audio Replay by approximately noon Eastern Time after the call ends. The replay of the conference also may be accessed by dialing 888-843-7419 or 630-652-3042 and entering 6887 757 #.

About Westell

Westell Technologies, Inc., headquartered in Aurora, Illinois, designs, distributes, markets and services a broad range of carrier-class communications equipment. This includes digital transmission, remote monitoring, power distribution, demarcation and cell-site optimization products used by wireline and wireless telecommunications service providers, industrial customers, and home network users. For more information, please visit http://www.westell.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

Certain statements contained herein that are not historical facts or that contain the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “may,” “will,” “plan,” “should,” or derivatives thereof and other words of similar meaning are forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, product demand and market acceptance risks, need for financing and capital, economic weakness in the United States (“U.S.”) economy and telecommunications market, the effect of international economic conditions and trade, legal, social and economic risks (such as import, licensing and trade restrictions), the impact of competitive products or technologies, competitive pricing pressures, customer product selection decisions, product cost increases, component supply shortages, new product development, excess and obsolete inventory, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the ability to successfully consolidate and rationalize operations, the ability to successfully identify, acquire and integrate acquisitions, the effect of the company's accounting policies, retention of key personnel and other risks more fully described in the company's SEC filings, including the Form 10-K for the fiscal year ended March 31, 2012, under Item 1A - Risk Factors. The company undertakes no obligation to publicly update these forward-looking statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, or otherwise.

Financial Tables to Follow:

       
 
 

Westell Technologies, Inc.

Condensed Consolidated Statement of Operations

(Amounts in thousands, except per share amounts)

(Unaudited)

 
Three Months Ended December 31, Nine Months Ended December 31,
2012     2011 2012     2011
Revenue $ 8,928 $ 14,392 $ 29,380 $ 58,321
Gross profit 3,143 4,263 10,387 18,850
Gross margin 35.2 % 29.6 % 35.4 % 32.3 %
Operating expenses:
Sales & marketing 1,807 1,414 5,515 5,108
Research & development 1,754 1,797 5,515 5,865
General & administrative 2,124 1,707 7,368 5,625
Restructuring (2 ) 149 275
Intangibles amortization 236   136   656   413  
Total operating expenses 5,921   5,052   19,203   17,286  
Operating income (loss) (2,778 ) (789 ) (8,816 ) 1,564
Gain on CNS asset sale 31,654
Other income 43 106 134 201
Interest (expense)   (37 )   (42 )
Income (loss) before income taxes and discontinued operations (2,735 ) (720 ) (8,682 ) 33,377  
Income tax benefit (expense) 1,399   268   3,431   (11,108 )
Net income (loss) from continuing operations (1,336 ) (452 ) (5,251 ) 22,269  
Income (loss) from discontinued operations, net of income tax (629 ) (1) 20,254   (629 ) (2) 22,161  
Net income (loss) $ (1,965 ) $ 19,802   $ (5,880 ) $ 44,430  
Basic earnings per share:
Net income (loss) from continuing operations $ (0.02 ) $ (0.01 ) $ (0.09 ) $ 0.33
Net income (loss) from discontinued operations (0.01 ) 0.30   (0.01 ) 0.33  
Net income (loss) $ (0.03 ) $ 0.30   $ (0.10 ) $ 0.66  
Diluted earnings per share:
Net income (loss) from continuing operations $ (0.02 ) $ (0.01 ) $ (0.09 ) $ 0.32
Net income (loss) from discontinued operations (0.01 ) 0.30   (0.01 ) 0.32  
Net income (loss) $ (0.03 ) $ 0.29   $ (0.10 ) $ 0.65  
Average number of common shares outstanding:
Basic 58,693 66,411 60,541 67,390
Diluted 58,693 67,332 60,541 68,656
 
(1)   The company sold ConferencePlus on December 31, 2011. In the quarter ended December 31, 2012, the company recorded an after-tax charge of $0.9 million for a pending indemnification claim related to the ConferencePlus sale transaction and an unrelated tax benefit of $0.3 million that resulted from finalizing income tax filings related to the sale.
 
 
 

Westell Technologies, Inc.

Condensed Consolidated Balance Sheet

(Amounts in thousands)

(Unaudited)

       
December 31, 2012 March 31, 2012
Assets:
Cash and cash equivalents $ 89,823 $ 120,832
Restricted cash 4,104 7,451
Short-term investments 25,223 14,455
Accounts receivable, net 4,936 5,710
Inventories 11,507 9,906
Prepaid expenses and other current assets 2,620 1,456
Deferred income taxes 2,576   1,859
Total current assets 140,789 161,669
Property and equipment, net 1,143 1,197
Goodwill 2,860 801
Intangibles, net 5,299 2,728
Deferred income taxes 33,719 30,740
Other assets 509   291
Total assets $ 184,319   $ 197,426
Liabilities and Stockholders’ Equity:
Accounts payable $ 4,116 $ 3,142
Accrued expenses 4,552   3,328
Total current liabilities 8,668 6,470
Tax contingency reserve long-term 3,484 3,483
Contingent consideration long-term 2,221
Other long-term liabilities 968   1,109
Total liabilities 15,341 11,062
Total stockholders’ equity 168,978   186,364
Total liabilities and stockholders’ equity $ 184,319   $ 197,426
 
 
 

Westell Technologies, Inc.

Condensed Consolidated Statement of Cash Flows

(Amounts in thousands)

(Unaudited)

 
Nine Months Ended December 31,
2012       2011
Cash flows from operating activities:
Net income (loss) $ (5,880 ) $ 44,430
Reconciliation of net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization 1,023 1,781
Stock-based compensation 1,062 922
Gain on CNS asset sale (31,654 )
Gain on Sale of ConferencePlus, net of tax (19,980 )
Restructuring 149 942
Deferred taxes (3,696 ) 13,999
Other (7 ) (305 )
Changes in assets and liabilities:
Accounts receivable 772 12,671
Inventory (1,286 ) 623
Accounts payable and accrued expenses 1,064 (26,573 )
Other (1,406 ) 177  
Net cash provided by (used in) operating activities (8,205 ) (2,967 )
Cash flows from investing activities:
Net purchases of short-term investments and debt securities (10,768 ) (20,219 )
Proceeds from CNS asset sale 36,683
Proceeds from the sale of ConferencePlus, net of cash transferred 40,331
Payment for business acquisition (2,524 )
Purchases of property and equipment, net (305 ) (779 )
Proceeds from the sale of non-operating assets 325
Changes in restricted cash 3,347   (7,449 )
Net cash provided by (used in) investing activities (10,250 ) 48,892  
Cash flows from financing activities:
Purchase of treasury stock (12,642 ) (12,553 )
Proceeds from stock options exercised 85   1,600  
Net cash provided by (used in) financing activities (12,557 ) (10,953 )
Effect of exchange rate changes on cash 3   (128 )
Net increase (decrease) in cash (31,009 ) 34,844
Cash and cash equivalents, beginning of period 120,832   86,408  
Cash and cash equivalents, end of period $ 89,823   $ 121,252  
 
 
 

Westell Technologies, Inc.

Segment Statement of Operations

(Amounts in thousands)

(Unaudited)

 
Three Months Ended December, 2012
Westell       CNS       Unallocated       Total
Revenue $ 8,873 $ 55 $ $ 8,928
Gross profit 3,090 53 3,143
Gross margin 34.8 % 96.4 % 35.2 %
Operating expenses:
Sales & marketing 1,862 (55 ) 1,807
Research & development 1,331 423 1,754
General & administrative 938 (11 ) 1,197 2,124
Restructuring
Intangibles amortization 234   2     236  
Total operating expenses (1) 4,365   359   1,197   5,921  
Operating income (loss) $ (1,275 ) $ (306 ) (1,197 ) (2,778 )
Other income 43   43  
Income (loss) before income taxes before discontinued operations (1,154 ) (2,735 )
Income tax benefit (expense) 1,399   1,399  
Net income (loss) from continuing operations $ 245   $ (1,336 )
 
 
  Three Months Ended December 31, 2011
Westell       CNS       Unallocated       Total
Revenue $ 7,674 $ 6,718 $ $ 14,392
Gross profit 2,650 1,613 4,263
Gross margin 34.5 % 24.0 % 29.6 %
Operating expenses:
Sales & marketing 1,269 145 1,414
Research & development 1,223 574 1,797
General & administrative 649 200 858 1,707
Restructuring (2 ) (2 )
Intangibles amortization 135   1     136  
Total operating expenses (2) 3,276   918   858   5,052  
Operating income (loss) $ (626 ) $ 695   (858 ) (789 )
Other income 106 106
Interest (expense) (37 ) (37 )
Income (loss) before income taxes before discontinued operations (789 ) (720 )
Income tax benefit (expense) 268   268  
Net income (loss) from continuing operations $ (521 ) $ (452 )
 
(1)   Includes $0.3 million and $0.0 million of depreciation and amortization expense from the Westell and CNS segments, respectively.
(2) Includes $0.3 million and $0.0 million of depreciation and amortization expense from the Westell and CNS segments, respectively.
 
 
 

Westell Technologies, Inc.

Segment Statement of Operations

(Amounts in thousands)

(Unaudited)

 
Nine Months Ended December 31, 2012
Westell       CNS       Unallocated       Total
Revenue $ 28,145 $ 1,235 $ $ 29,380
Gross profit 9,312 1,075 10,387
Gross margin 33.1 % 87.0 % 35.4 %
Operating expenses:
Sales & marketing 5,568 (53 ) 5,515
Research & development 4,216 1,299 5,515
General & administrative 3,232 531 3,605 7,368
Restructuring 149 149
Intangibles amortization 652   4     656  
Total operating expenses (1) 13,817   1,781   3,605   19,203  
Operating income (loss) $ (4,505 ) $ (706 ) (3,605 ) (8,816 )
Other income 134   134  
Income (loss) before income taxes before discontinued operations (3,471 ) (8,682 )
Income tax benefit (expense) 3,431   3,431  
Net income (loss) from continuing operations $ (40 ) $ (5,251 )
 
 
  Nine Months Ended December 31, 2011
Westell       CNS       Unallocated       Total
Revenue $ 32,920 $ 25,401 $ $ 58,321
Gross profit 13,090 5,760 18,850
Gross margin 39.8 % 22.7 % 32.3 %
Operating expenses:
Sales & marketing 4,197 911 5,108
Research & development 3,829 2,036 5,865
General & administrative 2,071 751 2,803 5,625
Restructuring 275 275
Intangibles amortization 410   3     413  
Total operating expenses (2) 10,507   3,976   2,803   17,286  
Operating income (loss) $ 2,583   $ 1,784   (2,803 ) 1,564
Gain on CNS asset sale 31,654 31,654
Other income 201 201
Interest (expense) (42 ) (42 )
Income (loss) before income taxes before discontinued operations 29,010   33,377  
Income tax benefit (expense) (11,108 ) (11,108 )
Net income (loss) from continuing operations $ 17,902   $ 22,269  
 
(1)   Includes $1.0 million and $0.0 million of depreciation and amortization expense from the Westell and CNS segments, respectively.
(2) Includes $0.7 million and $0.1 million of depreciation and amortization expense from the Westell and CNS segments, respectively.
 
 
 

Westell Technologies, Inc.

Reconciliation of GAAP to non-GAAP Financial Measures

(Amounts in thousands, except per share amounts)

(Unaudited)

       
Three Months Ended December 31, Nine Months Ended December 31,
2012       2011 2012       2011
GAAP net income (loss) $ (1,965 ) $ 19,802 $ (5,880 ) $ 44,430
Adjustments:
CNS asset sale, net of tax (1) (20 ) 316 (18,963 )
Income tax benefit (2) (2,101 )
(Income) loss from discontinued operations, net of income tax (3) 629   (20,254 ) 629   (22,161 )
Total adjustments 609   (20,254 ) 945   (43,225 )
Non-GAAP net income (loss) $ (1,356 ) $ (452 ) $ (4,935 ) $ 1,205  
GAAP net income (loss) per common share:
Basic $ (0.03 ) $ 0.30 $ (0.10 ) $ 0.66
Diluted $ (0.03 ) $ 0.29 $ (0.10 ) $ 0.65
Non-GAAP net income (loss) per common share:
Basic $ (0.02 ) $ (0.01 ) $ (0.08 ) $ 0.02
Diluted $ (0.02 ) $ (0.01 ) $ (0.08 ) $ 0.02
Average number of common shares outstanding:
Basic 58,693 66,411 60,541 67,390
Diluted 58,693 67,332 60,541 68,656
 
 

The company conforms to U.S. Generally Accepted Accounting Principles (GAAP) in the preparation of its financial statements. This schedule reconciles the company’s GAAP net income to adjusted net income on a non-GAAP basis. Management believes that these non-GAAP results provide meaningful supplemental information to investors and indicate the company's core performance and that they facilitate comparison of results across reporting periods. The company uses these non-GAAP measures when evaluating its financial results. Non-GAAP measures should not be viewed as a substitute for the company’s GAAP results.

(1)   On April 15, 2011, the company sold certain assets and transferred certain liabilities of the CNS segment. The adjustments remove the gain on the sale, costs associated with the transaction, and related income tax effects. Fiscal year 2013 amounts reflect the costs of a resolution of a dispute related to the CNS sale.
(2) Benefit resulting from the release of a reserve for income taxes.
(3) On December 31, 2011, the ConferencePlus Division was sold. In the quarter ended December 31, 2012, the company recorded an after-tax charge of $0.9 million for a pending indemnification claim related to the ConferencePlus sale transaction and an unrelated tax benefit of $0.3 million that resulted from finalizing income tax filings related to the sale. Historical results of operations of ConferencePlus are presented as discontinued operations.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment. Leveraging technologies proven in the Carrier and Enterprise markets, IStaX is designed to work ac...
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.